Industrial & Logistics

ABC Illinois- Elk Grove Village

2454-2458 Elmhurst Rd, Elk Grove Village, IL, 60007-6311, US

ABC Illinois- Elk Grove Village_Property for Sale

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ABC Illinois- Elk Grove Village 2_Property for Sale

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee simple interest in the newly-expanded Associated Builders & Contractors (ABC) facility at 2454-58 Elmhurst Rd, Elk Grove Village, IL (the “Property” or “Asset”)- adjacent to O’Hare International Airport. This 16,473 square foot flex industrial site on 1.30 acres has been renovated and expanded with significant tenant investment to accommodate the Associated Builders & Contractors (“Tenant”) consolidation plans.

Associated Builders & Contractors recently executed a new NNN lease with an initial term of 10 years and annual rental increases. ABC is a nationally recognized trade association with over 22,000 members throughout 69 chapters. ABC has been operating at the premise sine 2017 and recently expanded the space. The Property offers a rare opportunity to acquire a long-term cash flow in the heart of one of the most prominent industrial corridors.


BROKER OF RECORD: ALEX SHARRIN LICENSE #: IL - 475170243

Attributes

Asking Price
$2,304,000
Building area Net
16,473 sf
Occupancy
100.00%
Year built
1982

Investment highlights

EXCEPTIONAL LOCATION IN A PREMIERE INDUSTRIAL MARKET

  • Situated on Elmhurst Road directly adjacent to O’Hare International Airport, one of the world’s busiest airports.
  • The O’Hare industrial submarket is the second largest in the nation and has reached historically low vacancy rates of 1.9%.

NATIONALLY ESTABLISHED TENANT IN AN INDUSTRY WITH PRESSING DEMAND

  • Associated Builders & Contractors is a nationally recognized non-for-profit construction industry trade association with 69 chapters and more than 22,000 members throughout the country.
  • The construction industry is experiencing an extreme labor shortage. More than 650,000 workers are needed in order to meet current demand.

RECENTLY EXECUTED 10-YEAR LEASE WITH ATTRACTIVE TERMS

  • The Illinois chapter of ABC has been a partial occupant of the Asset since 2017 and recently executed a new 10-year lease and is now expanding their presence to be the sole occupant of the Property.
  • The NNN lease requires minimal landlord maintenance and includes a 5-year renewal option as well as annual 2.50% rent increases, providing a strong hedge against inflation. 


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Last updated
Nov 30, 2022